Economy, Domestic Economy
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UK Eyes Long-Term Presence in Iranian Market

UK Eyes Long-Term Presence in Iranian MarketUK Eyes Long-Term Presence in Iranian Market

International British enterprises are seeking long-term presence in the post-sanctions Iran’s energy and industrial markets, the visiting British Minister of State for Trade and Investment Francis Anthony Aylmer Maude said in an exclusive interview with Xinhua on Sunday.

“The thing that distinguishes British companies I brought today (to Iran) is that all of them are companies that cooperate globally,” Maude said, adding that they cooperate on the basis of long-term investments.

“None of these companies cooperate on the short-term basis and they look for a long-term partnership with the Iranian counterparts as well.”

The British minister, who arrived in the capital Tehran on Saturday, said the business delegation accompanying him in the visit to Tehran wants to ensure that it will have a “successful” partnership with Iranian businessmen.

He hoped that the international nuclear accord on Iran’s nuclear program could engage Iran with the global economy.

In September, Garry Dryburgh, the Middle East and Africa president of the British oil giant Amec Foster Wheeler, said that the company was carefully watching the implementation progress of Iran’s nuclear deal with world powers to see if it would be possible to return to Iran’s energy market.

“We previously had very good relationships with some of the local Iranian engineering contractors in oil and gas, and we would be very pleased to see if we can reestablish some of them after the sanctions,” Dryburgh told Shana.

On October 18, Iran and the powers announced the start of the implementation of the nuclear deal reached on July 14 in the Austrian capital of Vienna.

Iran has expressed its keenness on expanding ties with European countries at the dawn of new atmosphere and lifting of sanctions against the country, especially in the banking and industrial sectors.

A number of officials from major western countries recently visited Tehran, trying to thaw ties and restore economic cooperation.

Financialtribune.com